ARTICLES ABOUT INSURANCE BY DATE - PAGE 3

Most salaried individuals believe that their employers' group health insurance is adequate. If you are among them, you could be wrong. Companies across sectors are cutting down on the range of benefits that they are providing their employees. According to insurance broking firm Marsh India , over 70% of employers surveyed in 2013 had modified their health plans between 2011 and 2012 to manage the rising healthcare costs. The changes included partial or full withdrawal of parental coverage, imposition of rent restrictions and costsharing with employees on claims.

MUMBAI: Differences have emerged between the government and the National Payment Corporation of India (NPCI), the issuer of RuPay debit card that is given free with every bank account opened under the Pradhan Mantri Jan-Dhan Yojana, over the insurance cover on the inactive cards. NPCI is of the view that any cardholder who has not swiped the debit card even once in 45 days should not be entitled to insurance cover, while the government says that any such condition defeats the purpose of the national mission for financial inclusion.

MUMBAI: State-run general insurance companies could be in line for a windfall of Rs 1,600-crore business a year, following the Indian Banks' Association's (IBA) wage deal with more than 10 lakh staffers, said two people familiar with the matter. From now on, banks will buy health insurance cover from one of the state-run general insurance companies instead of reimbursing the medical expenses of staff in full which goes as part of their expenses, they said. This could also reduce the expenses and put a cap on the liabilities of banks in the future.

MUMBAI: England-based Willis Group Holdings , the third largest insurance brokerage in the world, has re-entered the Indian market by picking up 49 per cent stake in the New Delhi-based Almondz Insurance Brokers . The British company has picked up 49 per cent stake from Avonmore Capital & Management Services, thereby becoming the first foreign company to do so after the Insurance Ordinance was issued in December which allows up to...

Facebook and Twitter have spread happiness among people by transforming the way they exchange information about their holidays, birthday parties, and college reunions with the rest of the world. But the same medium have also landed many in trouble for innocuous comments that have ruffled feathers and in some cases even led to loss of jobs, thanks to the ease of communicating. That combination of pleasant and painful experience of the medium could soon extend to the insurance industry.

By K K Mishra, MD and CEO, TATA AIG General Insurance Company Ltd The general insurance industry in the last few years has been consistently registering double digit growth, but it has slowed in the last 18 months. Notwithstanding slower growth so far, we expect 2015 to be a year of change, and the industry should clock double digit growth over prior growth numbers. The industry is expected to maintain momentum and achieve better double digit growth, say 15% or more, in FY16 too. On 26 December 2014, the President formally assented to the Cabinet's recommendation and the Insurance Laws (Amendment)

PARIS: Europe's second-biggest insurer AXA posted a 12 per cent rise in 2014 net profit thanks to lower costs and raised its dividend, sending its shares to their highest since the start of the financial crisis. Despite low interest rates pressuring insurers' investment revenues, analysts saw room for the company to raise its dividend further in the future. AXA shares rose nearly 5 percent to 22.48 euros in early trading, the highest level since Oct. 3, 2008, before pulling back to 21.925 at 1217 GMT. The firm proposed a 2014 dividend of 0.95 euros a share , up 17 per cent and above analysts' average estimate of 0.89 euros.

By Rajesh Sud The upcoming first full-year Union Budget of Finance Minister Arun Jaitley would be carefully matched, as it is expected to provide directional clarity on the Modi government's economic agenda. This is the time and the biggest opportunity for the government to showcase its vision for the economy and industries. The budgeted fiscal deficit of the Centre is 4.1% of the GDP for the current financial year. In his last budget speech, the Finance Minister had set the fiscal deficit target at 3.6% and 3.1%, respectively, for FY 16 and FY 17, which -- given the need for providing growth to the current economy -- may have to be revised.

There is a trend among new parents to bank cord blood stem cells to protect the child and family from future diseases. However, many forget to get the newborn under a health insurance plan to cover medical expenses of the child. Though health insurance providers may not issue an individual policy to a newborn, it is a good idea to add the child to an existing group health cover of the parents or the family floater policy. Age Most health insurers allow addition of a child to the parent's insurance cover once the child has completed 90 days.

NEW DELHI: The government is preparing to deploy orbiting satellites to digitally map each farmland in the country, data from which will be used to provide tailor-made crop insurance cover to farmers. A senior government official told ET that a proposal in this regard is being discussed with the insurance regulator, Insurance Regulatory and Development Authority of India ( Irda ). Explaining the move, the official said the idea is to digitally map all of India's farming plots using GPS readings and offer farmers yield-based insurance products, which will cover their individual risks.